Imsa Fund For Advancement Of Education
- Assets
- $12.1m
- Revenue
- $1.2m
- Investments
- $0.0
- Employees
- 0
- Location
- Aurora, IL
- Founding
- 02/1987
- Data as of
- 06/2023
- EIN
- 36-3422778
Organization Overview
Imsa Fund For Advancement Of Education is located in Aurora, IL. The organization was established in 1987. According to its NTEE Classification (B01) the organization is classified as: Alliances & Advocacy, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Imsa Fund For Advancement Of Education is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2023, Imsa Fund For Advancement Of Education generated $1.2m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (13.2%) each year. All expenses for the organization totaled $752.1k during the year ending 06/2023. As we would expect to see with falling revenues, expenses have declined by (8.4%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO FURTHER EDUCATION THROUGH SUPPORT OF PROGRAMS OF THE ILLINOIS MATHEMATICS AND SCIENCE ACADEMY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDUCATIONAL PROGRAMS - IMSA FUND SUPPORTS PROFESSIONAL DEVELOPMENT AND STUDENT ENRICHMENT FOR ILLINOIS SCHOOLS, TEACHERS, AND COMMUNITIES THROUGH PROGRAMS THAT DEVELOP TALENT AND LEADERSHIP IN STEM (SCIENCE, TECHNOLOGY, ENGINEERING AND MATHEMATICS). PROFESSIONAL DEVELOPMENT IN PARTNERSHIP WITH SCHOOLS FOR TEACHERS INCLUDE: PROBLEM-BASED LEARNING, IMSA FUSION, AND INQUIRY-BASED MATH AND SCIENCE TEACHING. STUDENT ENRICHMENT PROGRAMS INCLUDE SUMMER AND WEEKEND PROGRAMS AS WELL AS ONLINE AND AFTER-SCHOOL LEARNING ACTIVITIES SUCH AS FUSION AND ALLIES. ALL PROGRAMS HAVE AN EMPHASIS ON SERVING STUDENTS HISTORICALLY UNDERREPRESENTED AND UNDERSERVED IN MATH AND SCIENCE (APPROXIMATED 12,000 STUDENTS AND TEACHERS).THE ORGANIZATION SET UP A FUND FOR EMERGENCY RELIEF PAYMENTS FOR FAMILIES IN NEED OF HELP DURING COVID19. ALL PAYMENTS CAME FROM A RESTRICTED ACCOUNT FUNDED BY DONORS FOR THAT SPECIFIC RESTRICTED FUND
GIFTED EDUCATION, GENERAL/OTHER - IMSA FUND SUPPORTS THE ADVANCED RESIDENTIAL COLLEGE PREPARATORY PROGRAM OF THE ILLINOIS MATHEMATICS AND SCIENCE ACADEMY WHICH INCLUDES STUDENT INQUIRY AND RESEARCH, LEADERSHIP DEVELOPMENT, FACULTY DEVELOPMENT, SCHOLARSHIPS, MINORITY RECRUITMENT AND RETENTION, LEARNING ASSESSMENT, CURRICULUM DEVELOPMENT AND ENTREPRENEURIAL INITIATIVES. THE EMPHASIS IS ON ENABLING ACADEMICALLY TALENTED STUDENTS TO REACH EXCEPTIONAL LEVELS OF ACHIEVEMENT IN MATH, SCIENCE, AND TECHNOLOGY (650 RESIDENTIAL STUDENTS).
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jacob Plummer President | OfficerTrustee | 1 | $0 |
Kevin Brookins Secretary | OfficerTrustee | 1 | $0 |
E Glenn Rippie Treasurer/vice President (thru 5/31/23) | OfficerTrustee | 1 | $0 |
Kimberly Simon Director/vice President (start 5/1/23) | OfficerTrustee | 1 | $0 |
Matt Maddox Director/treasurer (start 5/17/23) | OfficerTrustee | 1 | $0 |
Hector Correa Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $910,391 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $910,391 |
| Total Program Service Revenue | $0 |
| Investment income | $371,822 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$110,308 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,171,905 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $554,687 |
| Grants and other assistance to domestic individuals. | $7,750 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $36,673 |
| Fees for services: Other | $29,590 |
| Advertising and promotion | $4,966 |
| Office expenses | $16,810 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $2,618 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $5,907 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $4,400 |
| All other expenses | $8,484 |
| Total functional expenses | $752,098 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $788,761 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $42,792 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $11,228,515 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $22,910 |
| Total assets | $12,082,978 |
| Accounts payable and accrued expenses | $8,870 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $8,870 |
| Net assets without donor restrictions | $9,010,460 |
| Net assets with donor restrictions | $3,063,648 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $12,082,978 |